Banque Misr has received an USD 80 mn tranche in funding from Credit Suisse, Banque Misr Vice Chairman Akef El Maghraby told Al Mal. Banque Misr had announced it is borrowing a total of USD 350 mn from Credit Suisse to support liquidity and meet clients’ USD requirements. The central bank has also recently issued criteria to guide banks wanting to allocate loans from international funding institutions to support their tier-2 capital. El Maghraby says the most recent tranche brings the total Banque Misr received from Credit Suisse to USD 250 mn, with the timeline for the remaining USD 100 mn to arrive still to be set.

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